Marijuana Sector Positioned to Move Higher as FDA Reviews Drug’s Status

June 30, 2014

WHITEFISH, MT / June 30, 2014 / The Marijuana Index(TM) traded marginally lower last week after MedBox Inc. (OTC:MDBX) and CannaVEST Corp.’s (OTC:CANV) moves lower offset GW Pharmaceuticals plc’s (NASDAQ:GWPH) modest gains.

Top gainers included Tauriga Sciences Inc. (TAUG), which jumped more than 60% after saying that it remains on track with its Honeywood acquisition to commercial products in the medicinal cannabis sector, and Vape Holdings Inc. (VAPE), which jumped more than 40% after reporting results from the soft launch of its e-commerce website HiveCeramics.com last week. The largest decliners included Easton Pharmaceuticals Inc. (OTC:EAPH), which fell nearly 20% last week.

Cannabis regulatory initiatives and news were mixed last week. While the United Nations warned about a rise in cannabis-related medical cases following legalization efforts, the U.S. FDA indicated that it would reconsider marijuana’s status as a Schedule I Controlled Substance. Legalization efforts have also gained ground in many U.S. states, with Oregon and Alaska becoming two battlegrounds for recreational legalization efforts over the coming year.

  • Source: Yahoo Finance

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This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for Vape Holdings’ products, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in Vape Holdings’ filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting Vape Holdings please refer to the Company’s Securities and Exchange Commission filings, which are available at www.sec.gov. Vape Holdings undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.